| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Gretna | 18 | 18 | 0 | 0 | 70:10 | 60 | 54 | |
| 2. | Peterhead | 18 | 11 | 6 | 1 | 46:17 | 29 | 39 | |
| 3. | Cowdenbeath | 18 | 8 | 4 | 6 | 24:32 | -8 | 28 | |
| 4. | Queen's Park | 18 | 7 | 5 | 6 | 24:24 | 0 | 26 | |
| 5. | Elgin City | 18 | 7 | 5 | 6 | 24:31 | -7 | 26 | |
| 6. | East Fife | 18 | 7 | 4 | 7 | 17:19 | -2 | 25 | |
| 7. | Montrose | 18 | 7 | 2 | 9 | 27:29 | -2 | 23 | |
| 8. | Stenhousemuir | 18 | 5 | 7 | 6 | 31:25 | 6 | 22 | |
| 9. | East Stirlingshire | 18 | 4 | 3 | 11 | 17:39 | -22 | 15 | |
| 10. | Albion Rovers | 18 | 3 | 4 | 11 | 20:46 | -26 | 13 |