| Pos | Team | Pld | Pts | GD | Home | Away | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| W | D | L | F | A | W | D | L | F | A | |||||||
| 1 | Alloa Athletic | 32 | 62 | 10 | 2 | 3 | 21 | 15 | 8 | 6 | 3 | 22 | 12 | |||
| 2 | Cowdenbeath | 30 | 53 | 9 | 4 | 3 | 29 | 16 | 6 | 4 | 4 | 19 | 14 | |||
| 3 | Stirling Albion | 28 | 47 | 5 | 7 | 3 | 21 | 18 | 8 | 1 | 4 | 25 | 18 | |||
| 4 | Brechin City | 30 | 46 | 8 | 4 | 3 | 25 | 16 | 5 | 3 | 7 | 15 | 13 | |||
| 5 | Peterhead | 32 | 44 | 6 | 5 | 5 | 20 | 18 | 7 | 0 | 9 | 20 | 27 | |||
| 6 | Dumbarton | 31 | 44 | 5 | 3 | 7 | 18 | 26 | 8 | 2 | 6 | 24 | 21 | |||
| 7 | Stenhousemuir | 32 | 38 | 5 | 5 | 5 | 14 | 15 | 4 | 6 | 7 | 21 | 19 | |||
| 8 | East Fife | 32 | 36 | 6 | 4 | 7 | 22 | 21 | 3 | 5 | 7 | 20 | 28 | |||
| 9 | Arbroath | 31 | 34 | 4 | 3 | 8 | 17 | 26 | 5 | 4 | 7 | 15 | 20 | |||
| 10 | Clyde | 30 | 21 | 4 | 0 | 11 | 9 | 24 | 1 | 6 | 8 | 14 | 24 | |||