Saturday 5 March 1932 at Vetch Field (Att 10,000)

Swansea Town (1) 1 (Miller 35): Ferguson, Lawrence, Milne, Tabram, Craven, Miller, Williams, Gunn, Pearce, Olsen, Lewis.
Wolves (1) 1 (Phillips 10): Tootill, Lowton, Kay, Rhodes, Hollingworth, Richards, Phillips, Redfern, Hartill, Deacon, Barraclough.

Referee: Mr W Lewington (Croydon).
Order of Goals: W,s.
Injury: Wolves were reduced to ten men after 70 minutes when Billy Barraclough left the pitch with an ankle injury.
Position: 2nd.