The club were relegated for the first time at the end of the 1928–29 season, going from the Second Division to the Third Division North. They came up as champions the following season and in the 1930–31 season were placed fifth in the second tier of English football, their highest ever league finish. Vale went to beat Chesterfield by a club record 9–1 margin on 24 September 1932. However, after these achievements the club were once again relegated in the 1935–36 season and remained in the third tier until World War II.