In the 1928 case of Atchison, Topeka & Santa Fe Railway Company et al. v. United States et al., the U.S Supreme Court ruled in favor of the United States government and against several railway companies who were challenging a decision by the Interstate Commerce Commission (ICC). The ICC had ordered that certain rates charged by these railways for interstate transportation be reduced as they were deemed unreasonable and discriminatory. The railway companies argued that this order was unconstitutional because it deprived them of their property without due process of law, violating their Fifth Amendment rights. However, the court upheld ICC's authority to regulate railroad rates under its mandate to ensure fair and reasonable practices in interstate commerce.

In the dissenting opinion for Atchison, Topeka & Santa Fe Railway Company v. United States et al., Justice Stone argued that the Interstate Commerce Commission (ICC) had overstepped its authority by ordering railroads to establish through routes and joint rates with competing carriers. He contended that such an order was only justified if it served public convenience or necessity, which he did not believe was demonstrated in this case. Furthermore, he expressed concern about the potential negative impact of forcing cooperation between competitors on market competition and innovation within the industry. He also questioned whether Congress intended for ICC's power to extend so far when they established it under the Interstate Commerce Act.