| Pos | Team | Pld | Pts | GD | Home | Away | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| W | D | L | F | A | W | D | L | F | A | |||||||
| 1 | Raith Rovers | 34 | 72 | 11 | 5 | 1 | 33 | 16 | 10 | 4 | 3 | 26 | 11 | |||
| 2 | Ayr United | 34 | 70 | 11 | 6 | 0 | 37 | 15 | 10 | 1 | 6 | 30 | 20 | |||
| 3 | Brechin City | 34 | 59 | 11 | 2 | 4 | 25 | 17 | 6 | 6 | 5 | 22 | 24 | |||
| 4 | Peterhead | 34 | 55 | 9 | 5 | 3 | 30 | 13 | 6 | 5 | 6 | 20 | 21 | |||
| 5 | Stirling Albion | 34 | 47 | 6 | 5 | 6 | 22 | 23 | 6 | 6 | 5 | 30 | 26 | |||
| 6 | East Fife | 34 | 41 | 6 | 2 | 9 | 19 | 21 | 6 | 3 | 8 | 19 | 20 | |||
| 7 | Arbroath | 34 | 39 | 6 | 2 | 9 | 20 | 21 | 5 | 4 | 8 | 22 | 23 | |||
| 8 | Alloa Athletic | 34 | 37 | 7 | 4 | 6 | 26 | 25 | 3 | 3 | 11 | 17 | 31 | |||
| 9 | Queen's Park | 34 | 33 | 4 | 6 | 7 | 17 | 22 | 3 | 6 | 8 | 18 | 27 | |||
| 10 | Stranraer | 34 | 16 | 1 | 4 | 12 | 14 | 47 | 2 | 3 | 12 | 16 | 40 | |||