| First Team Overall | First Team Appearances & Scorers | Transfers | Reserves | Youth |
| To Wolves | New Professionals | Away |
| Moore, WA- Southampton (Fee Unknown) 20/5 | Halford, BE- 8/5 | Harvey, J- Bournemouth & BA (Fee Unknown) 3/5 |
| Bird, K- Willenhall Rovers (Fee Unknown) 4/5 | Howshall, T- 21/7 | Gold, WS- Chelsea (Fee Unknown) 6/5 |
| Darvill, GN- Mansfield Town (Fee Unknown) 6/5 | Reece, TS- 27/7 | Lucas, WH- Swindon Town (Fee Unknown) 11/5 |
| Sellars, W- Bournemouth & BA (Fee Unknown) 6/5 | Bullions, JW– 1/9 | Jordan, D- Crystal Palace (Fee Unknown) 27/5 |
| Wilson, F- Mansfield Town (Fee Unknown) 8/5 | Rudkin, TW- 18/9 | Coley, WE- Bournemouth & BA (Fee Unknown) 1/9 |
| Wright, HR- Woodbourne Athletic (Fee Unknown) 8/5 | Hinton, H- 1/10 | Sellars, W- Bournemouth & BA (Fee Unknown) 20/9 |
| Sidlow, CR- Llandudno Town (£100) 14/5 | Harston, J- 19/10 | Bracegirdle, JW- Newark (Released) 9/10 |
| Patterson, RP- Middlesbrough (Fee Unknown) 25/5 | Powell, DF- 22/10 | Clayton, JGG– Aston Villa (£7,000) 16/10 |
| Carter, S- Sheffield United (Fee Unknown) 7/6 | Haynes, S- 4/11 | Taylor, E- Bournemouth & BA (Fee Unknown) 27/10 |
| Elliott, WB- Carlisle United (Fee Unknown) 9/6 | Holmes, W- 17/12 | Lovery, J- Bournemouth & BA (Fee Unknown) 28/10 |
| Paton, TC- Ardeer Recreation (Fee Unknown) 22/6 | Kearns, J- 24/12 | Wharton, G- Portsmouth (Fee Unknown) 11/11 |
| Shield, JG- Bishop Auckland (Fee Unknown) 26/6 | Uren, LF- 3/2 | Davies, J- Shrewsbury Town (Fee Unknown) December 1937 |
| Lovery, J- Stockport County (Fee Unknown) 21/7 | Nelson, AO- 3/4 | Perfect, FT- Tranmere Rovers (Fee Unknown) 4/2 |
| Jones, B- Unknown 13/8 | Wildman, WR- 22/4 | Kearns, J- Tranmere Rovers (Fee Unknown) 4/2 |
| Ford, A- Port Vale (Fee Unknown) 17/9 | Keeley, A- Bournemouth & BA (Fee Unknown) 7/2 | |
| Sherwood, CH- Aberaman (Fee Unknown) 9/10 | Ordish, CS- Reading (Fee Unknown) 12/2 | |
| McIntosh, A-Folkestone Town (£500) 20/10 | ||
| Smith, RG- Colchester United (Fee Unknown) 26/10 | ||
| Morgan, G- Troedyrhiw Boys Club (Trialist) 4/11 | ||
| Wilson, A- Chester (Fee Unknown) 12/11 | ||
| Rooney, J- Walker Celtic (Fee Unknown) 7/12 | ||
| Turner, TA- Unknown 7/12 | ||
| Langley, WE- Tunbridge Wells Rangers (Fee Unknown) 1/1 | ||
| Woodward, L- Folkestone Town (£300) 25/1 | ||
| Robinson, E- Fleetwood (£230) 9/2 |
