| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Arbroath | 36 | 66 | +27 | 18 | 12 | 6 | 63 | 36 |
| 2 | Forfar Athletic | 36 | 64 | +20 | 18 | 10 | 8 | 69 | 49 |
| 3 | Annan Athletic | 36 | 58 | +3 | 18 | 4 | 14 | 61 | 58 |
| 4 | Montrose | 36 | 52 | -9 | 14 | 10 | 12 | 44 | 53 |
| 5 | Elgin City | 36 | 51 | +20 | 14 | 9 | 13 | 67 | 47 |
| 6 | Stirling Albion | 36 | 47 | -9 | 12 | 11 | 13 | 50 | 59 |
| 7 | Edinburgh City | 36 | 43 | -7 | 11 | 10 | 15 | 38 | 45 |
| 8 | 36 | 40 | -15 | 10 | 10 | 16 | 50 | 65 | |
| 9 | Clyde | 36 | 38 | -15 | 10 | 8 | 18 | 49 | 64 |
| 10 | Cowdenbeath | 36 | 35 | -15 | 9 | 8 | 19 | 40 | 55 |