| Pos | Team | Pld | Pts | GD | Home | Away | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| W | D | L | F | A | W | D | L | F | A | |||||||
| 1 | Alloa Athletic | 29 | 55 | 10 | 2 | 3 | 21 | 15 | 6 | 5 | 3 | 19 | 12 | |||
| 2 | Cowdenbeath | 28 | 50 | 8 | 4 | 3 | 28 | 16 | 6 | 4 | 3 | 19 | 13 | |||
| 3 | Stirling Albion | 26 | 44 | 4 | 7 | 2 | 19 | 16 | 8 | 1 | 4 | 25 | 18 | |||
| 4 | Brechin City | 26 | 43 | 8 | 4 | 1 | 24 | 13 | 4 | 3 | 6 | 13 | 10 | |||
| 5 | Dumbarton | 28 | 38 | 5 | 3 | 6 | 17 | 23 | 6 | 2 | 6 | 21 | 20 | |||
| 6 | Peterhead | 28 | 37 | 6 | 4 | 4 | 20 | 17 | 5 | 0 | 9 | 15 | 25 | |||
| 7 | Stenhousemuir | 29 | 35 | 5 | 5 | 4 | 13 | 13 | 3 | 6 | 6 | 20 | 18 | |||
| 8 | East Fife | 29 | 33 | 5 | 4 | 6 | 20 | 20 | 3 | 5 | 6 | 19 | 26 | |||
| 9 | Arbroath | 29 | 30 | 4 | 2 | 8 | 17 | 26 | 4 | 4 | 7 | 13 | 20 | |||
| 10 | Clyde | 26 | 17 | 3 | 0 | 9 | 7 | 19 | 1 | 5 | 8 | 14 | 24 | |||