| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Stenhousemuir | 36 | 18 | 14 | 4 | 50:31 | 19 | 68 | |
| 2. | Peterhead | 36 | 16 | 12 | 8 | 58:39 | 19 | 60 | |
| 3. | Spartans | 36 | 15 | 13 | 8 | 53:43 | 10 | 58 | |
| 4. | Dumbarton | 36 | 16 | 9 | 11 | 56:44 | 12 | 57 | |
| 5. | East Fife | 36 | 11 | 11 | 14 | 46:47 | -1 | 44 | |
| 6. | Forfar Athletic | 36 | 9 | 15 | 12 | 38:45 | -7 | 42 | |
| 7. | Elgin City | 36 | 10 | 10 | 16 | 35:59 | -24 | 40 | |
| 8. | Bonnyrigg Rose | 36 | 9 | 12 | 15 | 47:48 | -1 | 39 | |
| 9. | Clyde | 36 | 9 | 11 | 16 | 46:58 | -12 | 38 | |
| 10. | Stranraer | 36 | 9 | 9 | 18 | 38:53 | -15 | 36 |