| Clubs | P | W | D | L | FA | Point | |
| 1 | East Fife | 36 | 28 | 4 | 4 | 77-24 | 88 |
| 2 | Stranraer | 36 | 19 | 8 | 9 | 65-43 | 65 |
| 3 | Montrose | 36 | 17 | 8 | 11 | 59-36 | 59 |
| 4 | Arbroath | 36 | 14 | 10 | 12 | 54-47 | 52 |
| 5 | Stenhousemuir | 36 | 13 | 9 | 14 | 50-59 | 48 |
| 6 | Elgin City | 36 | 13 | 8 | 15 | 56-68 | 47 |
| 7 | Albion Rovers | 37 | 9 | 11 | 17 | 51-68 | 38 |
| 8 | Dumbarton | 36 | 9 | 10 | 17 | 31-48 | 37 |
| 9 | East Stirling | 36 | 10 | 4 | 22 | 48-71 | 34 |
| 10 | Forfar Athletic | 37 | 8 | 10 | 19 | 35-62 | 34 |