| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Cowdenbeath | 36 | 71 | +39 | 20 | 11 | 5 | 68 | 29 |
| 2 | Arbroath | 36 | 63 | +25 | 17 | 12 | 7 | 76 | 51 |
| 3 | Dumbarton | 36 | 58 | 0 | 17 | 7 | 12 | 61 | 61 |
| 4 | Airdrie United | 36 | 52 | +8 | 14 | 10 | 12 | 68 | 60 |
| 5 | Stenhousemuir | 36 | 51 | +5 | 15 | 6 | 15 | 54 | 49 |
| 6 | East Fife | 36 | 48 | -2 | 14 | 6 | 16 | 55 | 57 |
| 7 | Forfar Athletic | 36 | 42 | -13 | 11 | 9 | 16 | 59 | 72 |
| 8 | Brechin City | 36 | 41 | -15 | 10 | 11 | 15 | 47 | 62 |
| 9 | Albion Rovers | 36 | 37 | -23 | 10 | 7 | 19 | 43 | 66 |
| 10 | Stirling Albion | 36 | 34 | -24 | 9 | 7 | 20 | 46 | 70 |