Saturday 13 December 1947 at Molineux (Att 31,317)

Wolves (1) 1 (Forbes 15): Williams, Kelly, McLean, Crook, Brice, Wright, Dunn, Pye, Forbes, Smyth, Mullen.
Liverpool (1) 2 (Stubbins 35, Balmer 69): Minshull, Harley, Ramsden, Paisley, Hughes, Spicer, Liddell, Balmer, Stubbins, Jones, Priday.

Referee: Mr C Fletcher (Davenham, Cheshire).
Order of Goals: W,l,l.
Position: 9th.