| PLD | W | D | L | GF | GA | GD | PTS | ||
|---|---|---|---|---|---|---|---|---|---|
| 1 | Alloa Athletic | 36 | 23 | 8 | 5 | 70 | 39 | 31 | 77 |
| 2 | Queens Park | 36 | 19 | 6 | 11 | 70 | 48 | 22 | 63 |
| 3 | Stranraer | 36 | 17 | 7 | 12 | 77 | 57 | 20 | 58 |
| 4 | Elgin City | 36 | 16 | 9 | 11 | 68 | 60 | 8 | 57 |
| 5 | Peterhead | 36 | 15 | 6 | 15 | 51 | 53 | -2 | 51 |
| 6 | Annan Athletic | 35 | 12 | 10 | 13 | 51 | 52 | -1 | 46 |
| 7 | Berwick Rangers | 35 | 11 | 12 | 12 | 58 | 57 | 1 | 45 |
| 8 | Montrose | 35 | 11 | 5 | 19 | 57 | 73 | -16 | 38 |
| 9 | Clyde | 36 | 8 | 11 | 17 | 35 | 50 | -15 | 35 |
| 10 | East Stirling | 35 | 6 | 6 | 23 | 37 | 85 | -48 | 24 |
