| Pos | Team | Pld | Pts | GD | Home | Away | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| W | D | L | F | A | W | D | L | F | A | |||||||
| 1 | Cowdenbeath | 20 | 35 | 5 | 2 | 3 | 16 | 11 | 5 | 3 | 2 | 16 | 10 | |||
| 2 | Alloa Athletic | 20 | 35 | 5 | 1 | 3 | 9 | 9 | 5 | 4 | 2 | 14 | 8 | |||
| 3 | Stirling Albion | 18 | 33 | 3 | 6 | 1 | 16 | 12 | 6 | 0 | 2 | 16 | 12 | |||
| 4 | Brechin City | 20 | 31 | 6 | 4 | 0 | 20 | 10 | 2 | 3 | 5 | 9 | 9 | |||
| 5 | Dumbarton | 19 | 28 | 3 | 3 | 4 | 10 | 16 | 5 | 1 | 3 | 17 | 14 | |||
| 6 | Peterhead | 19 | 27 | 3 | 3 | 3 | 11 | 11 | 5 | 0 | 5 | 14 | 16 | |||
| 7 | Stenhousemuir | 21 | 25 | 3 | 3 | 4 | 9 | 12 | 3 | 4 | 4 | 16 | 12 | |||
| 8 | East Fife | 21 | 25 | 3 | 3 | 5 | 13 | 15 | 3 | 4 | 3 | 15 | 14 | |||
| 9 | Arbroath | 21 | 17 | 1 | 1 | 8 | 10 | 24 | 3 | 4 | 4 | 9 | 12 | |||
| 10 | Clyde | 19 | 15 | 3 | 0 | 7 | 6 | 15 | 1 | 3 | 5 | 9 | 13 | |||