| P | W | D | L | CS | FtS | F | A | GD | Pt | PPG | ||
| 1 | Alloa Athletic | 18 | 9 | 3 | 6 | 3 | 3 | 31 | 25 | +6 | 21 | 1.17 |
| 2 | Albion Rovers | 18 | 8 | 4 | 6 | 4 | 3 | 26 | 24 | +2 | 20 | 1.11 |
| 3 | East Fife | 18 | 8 | 3 | 7 | 6 | 3 | 24 | 21 | +3 | 19 | 1.06 |
| 4 | Montrose | 18 | 7 | 5 | 6 | 3 | 5 | 28 | 30 | -2 | 19 | 1.06 |
| 5 | Brechin City | 18 | 6 | 6 | 6 | 5 | 5 | 22 | 21 | +1 | 18 | 1.00 |
| 6 | East Stirlingshire | 21 | 7 | 6 | 8 | 4 | 4 | 32 | 32 | 0 | 20 | 0.95 |
| 7 | Dumbarton | 21 | 7 | 6 | 8 | 5 | 5 | 26 | 26 | 0 | 20 | 0.95 |
| 8 | Stranraer | 21 | 6 | 7 | 8 | 3 | 4 | 29 | 34 | -5 | 19 | 0.90 |
| 9 | Stirling Albion | 18 | 6 | 4 | 8 | 4 | 7 | 30 | 29 | +1 | 16 | 0.89 |
| 10 | Queen's Park | 21 | 4 | 10 | 7 | 6 | 6 | 23 | 28 | -5 | 18 | 0.86 |
| 11 | Cowdenbeath | 18 | 4 | 5 | 9 | 3 | 2 | 22 | 33 | -11 | 13 | 0.72 |
| 12 | Berwick Rangers | 21 | 3 | 9 | 9 | 4 | 4 | 26 | 33 | -7 | 15 | 0.71 |
| 13 | Arbroath | 21 | 3 | 9 | 9 | 3 | 7 | 22 | 38 | -16 | 15 | 0.71 |
| 14 | Stenhousemuir | 21 | 3 | 5 | 13 | 2 | 7 | 21 | 37 | -16 | 11 | 0.52 |
2 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