| Clubs | P | W | D | L | FA | Point | |
| 1 | Alloa Athletic | 25 | 13 | 6 | 6 | 32-24 | 45 |
| 2 | Cowdenbeath | 24 | 12 | 6 | 6 | 41-26 | 42 |
| 3 | Brechin City | 23 | 11 | 7 | 5 | 34-19 | 40 |
| 4 | Stirling Albion | 22 | 10 | 8 | 4 | 38-29 | 38 |
| 5 | Stenhousemuir | 26 | 7 | 11 | 8 | 30-27 | 32 |
| 6 | Dumbarton | 24 | 9 | 4 | 11 | 34-41 | 31 |
| 7 | Peterhead | 24 | 9 | 4 | 11 | 29-36 | 31 |
| 8 | East Fife | 25 | 6 | 9 | 10 | 32-39 | 27 |
| 9 | Arbroath | 25 | 6 | 6 | 13 | 26-40 | 24 |
| 10 | Clyde | 22 | 4 | 5 | 13 | 18-33 | 17 |