| P | W | D | L | CS | FtS | F | A | GD | Pt | PPG | ||
| 1 | Alloa Athletic | 16 | 13 | 1 | 2 | 6 | 2 | 39 | 17 | +22 | 40 | 2.50 |
| 2 | Berwick Rangers | 20 | 7 | 7 | 6 | 4 | 3 | 31 | 31 | 0 | 28 | 1.40 |
| 3 | Elgin City | 16 | 6 | 2 | 8 | 3 | 4 | 29 | 35 | -6 | 20 | 1.25 |
| 4 | Peterhead | 16 | 5 | 4 | 7 | 3 | 1 | 21 | 26 | -5 | 19 | 1.19 |
| 5 | Queen's Park | 16 | 5 | 3 | 8 | 2 | 4 | 24 | 27 | -3 | 18 | 1.13 |
| 6 | Stranraer | 16 | 5 | 2 | 9 | 1 | 4 | 24 | 32 | -8 | 17 | 1.06 |
| 7 | Annan Athletic | 20 | 5 | 4 | 11 | 3 | 6 | 27 | 39 | -12 | 19 | 0.95 |
| 8 | Clyde | 20 | 3 | 7 | 10 | 4 | 10 | 15 | 25 | -10 | 16 | 0.80 |
| 9 | Montrose | 20 | 4 | 2 | 14 | 1 | 5 | 27 | 51 | -24 | 14 | 0.70 |
| 10 | East Stirlingshire | 20 | 1 | 4 | 15 | 0 | 7 | 20 | 53 | -33 | 7 | 0.35 |
3 points for a win
Points per game, average goal difference then average goals scored applies
Points per game, average goal difference then average goals scored applies
