My Alliant Reloading Guide shows loads for military and then loads for commercial actions 4-5grains higher with 120gr bullets. Wishing my scanner was hooked up...
Top loads with 120gr SP: Re17 Fed210 Fed case OAL=3.0 41.5gr 2741fps
(for commercial actions) Re19 CCI200 Rem Case OAL=3.0 46gr 2820fps
Re22 CCI200 Rem Case OAL=3.0 46gr 2830fps
Now from Speer#12 "for use in modern rifles; Winchester, Remington, Ruger, etc"
120gr SP Cases are Federal, Primers are CCI200, OAL=3.0" Ruger M77 MkII 22"
Viht. N160 44gr=2895fps 48gr=2895fps
IMR4831 45gr=2650fps 49gr=2886fps
IMR4350 43gr=2639fps 47gr=2884fps
Re22 46.5gr=2654fps 50.5Cgr=2882fps
IMR4895 36.5gr=2581fps 40.5gr=2860fps
H414 42.5gr=2610fps 46.5gr=2856fps
H450 46gr=2617fps 50gr=2845fps
Re19 45gr=2593fps 49gr=2826fps
IMR4064 37.5gr=2554fps 41.5gr=2826fps
IMR4320 38gr=2514fps 42gr=2779fps
AA2700 40.5gr=2526fps 44.5gr=2776fps
Disclaimer: not responsible for typos or accuracy of data. Use at your own risk.
JMHO - the loads I've seen listed for the old 96actions would make decent starting loads for my rifle, which is a Ruger M77 MkII 22" like Speer used. My rifle allows seating to 3.30" to cycle (long magazine & throat) so I go as long up to 3.30" as the bullet will allow and stay firmly gripped by the case neck. A seating depth of .20" is plenty to hold in my cases and any deeper is simply to facilitate bullet length to meet max OAL.
HTH