In their second and final season under head coach Skip Stahley, the Rockets compiled a 6–4 record, outscored their opponents by a combined total of 318 to 210, and lost to Mid-American Conference champion Cincinnati, 33–13, in the fourth postseason Glass Bowl game.
On November 12, 1949, Cole rushed for 230 yards against North Dakota.
[3] Cole's 1,172 rushing yards stood as a Toledo single-season record until 1984.
[4] The 1939 Toledo team averaged 253.8 rushing yards per game.
[5] Ed Burrus and George Miley were the team captains.