| Results | |
| Division Two 1938/1939 | |||||||
| 
          
          P
          
         | 
          
          W
          
         | 
          
          D
          
         | 
          
          L
          
         | 
          
          F
          
         | 
          
          A
          
         | 
          
          Pts
          
         | |
| Cowdenbeath | 34 | 28 | 4 | 2 | 120 | 45 | 60 | 
| Alloa Athletic | 34 | 22 | 4 | 8 | 91 | 46 | 48 | 
| East Fife | 34 | 21 | 6 | 7 | 99 | 61 | 48 | 
| Airdrieonians | 34 | 21 | 5 | 8 | 85 | 57 | 47 | 
| Dunfermline Ath | 34 | 18 | 5 | 11 | 99 | 78 | 41 | 
| Dundee | 34 | 15 | 7 | 12 | 99 | 63 | 37 | 
| St Bernard's | 34 | 15 | 6 | 13 | 79 | 79 | 36 | 
| Stenhousemuir | 34 | 15 | 5 | 14 | 74 | 69 | 35 | 
| Dundee United | 34 | 15 | 3 | 16 | 78 | 69 | 33 | 
| Brechin City | 34 | 11 | 9 | 14 | 82 | 106 | 31 | 
| Dumbarton | 34 | 9 | 12 | 13 | 68 | 76 | 30 | 
| Morton | 34 | 11 | 6 | 17 | 74 | 88 | 28 | 
| King's Park | 34 | 12 | 2 | 20 | 87 | 92 | 26 | 
| Montrose | 34 | 10 | 5 | 19 | 82 | 96 | 25 | 
| Forfar Athletic | 34 | 11 | 3 | 20 | 74 | 138 | 25 | 
| Leith Athletic | 34 | 10 | 4 | 20 | 57 | 83 | 24 | 
| East Stirling | 34 | 9 | 4 | 21 | 89 | 130 | 22 | 
| Edinburgh City | 34 | 6 | 4 | 24 | 58 | 119 | 16 |