In the case of Columbus Gas & Fuel Co. v. Public Utilities Commission of Ohio et al., 1933, the Supreme Court was asked to determine whether a state utility commission had the authority to regulate rates charged by a gas company that operated in multiple states. The Columbus Gas & Fuel Company argued that its interstate operations placed it beyond the reach of state regulation, while the Public Utilities Commission contended it could regulate any business operating within its borders. The Supreme Court ruled in favor of the Public Utilities Commission, stating that even though part of their business is conducted across state lines, they are still subject to local regulations for those parts conducted within each individual state's boundaries.

In the dissenting opinion for Columbus Gas & Fuel Co. v. Public Utilities Commission of Ohio, Justice Stone argued that the majority's decision to uphold a state law requiring utilities to provide service at rates set by a public commission was an overreach of judicial power and violated constitutional protections against deprivation of property without due process. He contended that it is not within the court's purview to determine whether such rates are reasonable or fair; rather, this should be left up to legislative bodies and administrative agencies with expertise in these matters. Furthermore, he maintained that if there were any doubts about the constitutionality of such laws, they should be resolved in favor of their validity given their importance in protecting consumers from potentially exploitative pricing practices by utility companies.