| Pos | Team | Pld | Pts | GD | Home | Away | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| W | D | L | F | A | W | D | L | F | A | |||||||
| 1 | Alloa Athletic | 36 | 77 | 13 | 4 | 1 | 43 | 13 | 10 | 4 | 4 | 27 | 26 | |||
| 2 | Queen's Park | 36 | 63 | 10 | 4 | 4 | 41 | 17 | 9 | 2 | 7 | 29 | 31 | |||
| 3 | Stranraer | 36 | 58 | 10 | 2 | 6 | 43 | 33 | 7 | 5 | 6 | 34 | 24 | |||
| 4 | Elgin City | 36 | 57 | 11 | 3 | 4 | 43 | 17 | 5 | 6 | 7 | 25 | 43 | |||
| 5 | Peterhead | 36 | 51 | 7 | 5 | 6 | 25 | 23 | 8 | 1 | 9 | 26 | 30 | |||
| 6 | Annan Athletic | 36 | 49 | 7 | 5 | 6 | 28 | 26 | 6 | 5 | 7 | 25 | 27 | |||
| 7 | 36 | 48 | 6 | 5 | 7 | 30 | 28 | 6 | 7 | 5 | 31 | 30 | ||||
| 8 | Montrose | 36 | 38 | 7 | 3 | 8 | 34 | 33 | 4 | 2 | 12 | 24 | 42 | |||
| 9 | Clyde | 36 | 35 | 5 | 5 | 8 | 24 | 23 | 3 | 6 | 9 | 11 | 27 | |||
| 10 | 36 | 24 | 5 | 4 | 9 | 24 | 33 | 1 | 2 | 15 | 14 | 55 | ||||