1937–38 Port Vale F.C. season

The pre-season saw the arrival of goalkeepers James Nicholls and George Heppell (Brentford and Wolverhampton Wanderers); veteran right-back Johnny Rowe (Queen's Park Rangers); left-back Harry Johnson (Newcastle United); winger Charlie Rattray (Mansfield Town); experienced inside-right Arthur Masters (Nottingham Forest); and 'clever' inside-left William Price (Fulham).[1] Pre-season training included bowls, cricket, and practice with rubbers balls and rubber boots to improve ball control.[1] The fans were not optimistic for the campaign, and so ticket sales were low despite lowered prices.[1]

The season began with a 3–0 defeat at Oldham Athletic's Boundary Park.[1] Tom Nolan found himself dropped in favour of Jack Roberts, who immediately went on a run of three goals in three games.[1] The team went on to go six games unbeaten, including a 4–0 win over Barrow in which Roberts scored all four.[1] Their 5–1 win over Hartlepools United – in which Arthur Caldwell scored a hat-trick – took them into seventh in the table.[1] This run ended with a 5–0 drubbing at Valley Parade.[1] After this defeat to Bradford City the Vale signed forward Ken Fish from Aston Villa for 'a sizeable fee'.[1] In November, William Price was released from his contract.[1] The next month the side were on the end of a 7–2 beating by Chester at Sealand Road.[1] Soon after this Tom Morgan was re-appointed as manager, having been demoted to assistant-secretary in June 1932.[1] Immediately following this the club went on a run of one defeat in nine games.[1] During this run Roberts scored a hat-trick past Accrington Stanley in a 4–1 win.[1]

In February, Tommy Ward was traded to Stoke City in exchange for Harry Davies and a small fee.[1] On 5 March, Vale inflicted a 4–3 win over Bradford City, soon after which Sam Baum was signed from Bolton Wanderers just two minutes before the transfer deadline closed.[1] On 15 April, the club saw its first five-figure crowd of the season, as promotion-chasing Hull City took away both the points despite a brace from Roberts.[1] Revenge came at Anlaby Road three days later, when the "Valiants" held a clean sheet to damage the "Tigers" promotion prospects.[1] On the final home game of the season a seventeen-year-old Alf Bellis scored on his debut as Vale beat Rochdale 4–1.[1]

They finished fifteenth with 38 points, just six points clear of the re-election zone.[1] Away from The Old Recreation Ground the side struggled, managing just a single win.[1] Jack Roberts was the club's top goalscorer with 28 league strikes in 37 games – also making him the division's top scorer.[1]

On the financial side, a bare profit of some £300 was recorded, due to a transfer credit of £2,900.[1] The annual summer clear-out saw the departure of fourteen of the twenty-six players, including Sam Baum; Spencer Evans (Northwich Victoria); Roderick Welsh; Charlie Rattray (Accrington Stanley); Harry Johnson (Hartlepools United); Trevor Rhodes; and Fred Obrey (who was sold to Tranmere Rovers).[1] At the season's end the club were delighted to hear they had been transferred to the Third Division South, where gate receipts were higher.[1] On 27 June another meeting at the Grand Hotel (Hanley) saw the issue of a name change debated, where Stoke United and Stoke North End were again considered.[1] A change of name was advocated by every letter written in by supporters, however once again there was insufficient time to implement a name change before the upcoming season.[1]

In the FA Cup, a First Round exit came at the hands of Midland League Gainsborough Trinity, after Trinity won the replay 2–1.[1] In the short-lived Football League Third Division North Cup, Vale went out in the First Round to Tranmere Rovers – a 1–1 stalemate at home was followed by a 2–0 defeat in the replay at Prenton Park.[1]