| First Team Overall | First Team Appearances & Scorers | Transfers | Reserves | Youth |
| To Wolves | New Professionals | Away |
| McCarthy, B- Chester (Fee Unknown) 10/6 | Parker, WD- 16/6 | Jones, B- Arsenal (£13,000) 4/6 |
| Barlow, H- Barnsley (Combined Fee Unknown) 20/6 | Flatley, AA- 13/7 | Langley, WE- Bournemouth & BA (Fee Unknown) 4/6 |
| Myers, JH- Barnsley (Combined Fee Unknown) 20/6 | Millbank, JH- 19/7 | Farr, L- Blackpool (Fee Unknown) 5/8 |
| Cringan, JA- Bradford (Fee Unknown) 21/7 | McDonald, J- 1/9 | Bird, K- Bournemouth & BA (Fee Unknown) 10/8 |
| Bewley, D- Bournemouth & BA (Fee Unknown) 4/8 | Goddard, R- 1/9 | Kirkham, J- Bournemouth & BA (Fee Unknown) 24/8 |
| Burton, S- Doncaster Rovers (£3500) 9/9 | Glasberg, G- 19/4 | Tagg, E- Bournemouth & BA (Fee Unknown) 26/8 |
| Bainbridge, A- Unknown 10/9 | Pedley, F- 25/4 | McDonald, JC- Bournemouth & BA (Fee Unknown) 14/9 |
| McMahon, DA- Winnipeg Caledonian [Can] (Fee Unknown) 16/9 | Kirkham, R- 9/5 | Cringan, JA- Cardiff City (Fee Unknown) 29/9 |
| Smart, L- Folkestone Town (Fee Unknown) 10/10 | Smith, AE- 13/5 | Weaver, R- Chelsea (Fee Unknown) 3/10 |
| Rawcliffe, FR- Tranmere Rovers (Fee Unknown) 23/1 | Reece, TS- Crystal Palace (Fee Unknown) 15/10 | |
| Sanderson, JRM- Carlisle United (Fee Unknown) 17/2 | Carter, S- Macclesfield Town (Fee Unknown) 21/10 | |
| Betts, RE- Aberaman (Fee Unknown) 15/4 | Flowers, I- Mansfield Town (Fee Unknown) 12/11 | |
| Booth, WS- Doncaster Rovers (Fee Unknown) 27/7 | Taylor, JP- Norwich City (Fee Unknown) 14/12 | |
| McAloon, GP- Brentford (Fee Unknown) 16/3 | Brock, GW- Released (Fee Unknown) 6/1 | |
| Somerfield, AG- Mansfield Town (Fee Unknown) 17/3 | Thompson, H- Sunderland (Fee Unknown) 12/1 | |
| Christopher, F- Aberaman (Fee Unknown) 15/4 | Paton, TC- Swansea Town (Fee Unknown) 27/1 | |
| Marshall, JG- Norwich City (Fee Unknown) 29/4 | Wilson, A- Torquay United (Fee Unknown) 4/3 | |
| Plunkett, SE- Norwich City (Fee Unknown) 29/4 | Smith, R- Tranmere Rovers (Fee Unknown) 12/3 | |
| Clewlow, S- New Brighton (Fee Unknown) 11/5 | Millbank, JH- Tranmere Rovers (Fee Unknown) 13/3 | |
| Bilton, DH- York City (Fee Unknown) 12/5 | Harston, JC- Barnsley (Fee Unknown) 17/3 | |
| Harris, J- Tottenham Hotspur (Fee Unknown) 12/5 | Woodward, L- Walsall (Fee Unknown) 6/5 | |
| Burton, S- West Ham United (Fee Unknown) 9/5 | ||
| Nelson, AO- Wrexham (Fee Unknown) 9/5 |
Note: Bryn Jones transfer to Arsenal £13,000 was a world record fee for the time.
