In the case of Atchison, Topeka & Santa Fe Railway Company v. United States in 1916, the Supreme Court ruled on a dispute involving railroad companies and their rates for interstate commerce. The Interstate Commerce Commission (ICC) had ordered several railroads to reduce their rates for transporting goods across state lines, arguing that existing prices were unreasonable and discriminatory. The railway companies challenged this order, claiming it was beyond the ICC's authority. However, the Supreme Court upheld the ICC's decision stating that it did have power under federal law to regulate these rates if they were found to be unfair or prejudiced against certain parties involved in interstate trade. This ruling reinforced regulatory powers of government agencies like ICC over private businesses when public interest is at stake.

The dissenting opinion in the case of Atchison, Topeka & Santa Fe Railway Company v. United States argued that the Interstate Commerce Commission (ICC) did not have the authority to set maximum rates for private railroad companies. The justices contended that this power was reserved for Congress and could not be delegated to an administrative agency like ICC. They believed such delegation violated constitutional principles of separation of powers and due process rights under Fifth Amendment protections against government taking property without just compensation. Furthermore, they expressed concern about lack of judicial review or oversight over ICC's rate-setting decisions which could potentially lead to arbitrary or unfair outcomes for railroads.