| Clubs | P | W | D | L | FA | Point | |
| 1 | Alloa Athletic | 26 | 14 | 6 | 6 | 35-24 | 48 |
| 2 | Cowdenbeath | 25 | 13 | 6 | 6 | 43-27 | 45 |
| 3 | Brechin City | 24 | 11 | 7 | 6 | 34-21 | 40 |
| 4 | Stirling Albion | 23 | 10 | 8 | 5 | 38-32 | 38 |
| 5 | Stenhousemuir | 27 | 8 | 11 | 8 | 31-27 | 35 |
| 6 | Dumbarton | 25 | 9 | 4 | 12 | 34-42 | 31 |
| 7 | Peterhead | 25 | 9 | 4 | 12 | 29-39 | 31 |
| 8 | East Fife | 26 | 7 | 9 | 10 | 35-39 | 30 |
| 9 | Arbroath | 26 | 7 | 6 | 13 | 28-40 | 27 |
| 10 | Clyde | 23 | 4 | 5 | 14 | 19-35 | 17 |