| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Peterhead | 36 | 76 | +36 | 23 | 7 | 6 | 74 | 38 |
| 2 | Annan Athletic | 36 | 63 | +20 | 19 | 6 | 11 | 69 | 49 |
| 3 | Stirling Albion | 36 | 58 | +10 | 16 | 10 | 10 | 60 | 50 |
| 4 | Clyde | 36 | 57 | +2 | 17 | 6 | 13 | 50 | 48 |
| 5 | 36 | 52 | +14 | 15 | 7 | 14 | 63 | 49 | |
| 6 | Montrose | 36 | 46 | -12 | 12 | 10 | 14 | 44 | 56 |
| 7 | Albion Rovers | 36 | 44 | -13 | 12 | 8 | 16 | 41 | 54 |
| 8 | 36 | 44 | -14 | 12 | 8 | 16 | 45 | 59 | |
| 9 | Elgin City | 36 | 36 | -11 | 9 | 9 | 18 | 62 | 73 |
| 10 | Queen's Park | 36 | 24 | -32 | 5 | 9 | 22 | 36 | 68 |