This case involved a dispute between the Indiana Southern Railroad Company and the Liverpool, London & Globe Insurance Company. The railroad company had purchased a policy from the insurance company to cover any losses that might occur due to fire. The railroad company then suffered a fire loss and submitted a claim to the insurance company. The insurance company denied the claim, arguing that the policy did not cover the loss. The railroad company then sued the insurance company in the Supreme Court of Indiana. The Supreme Court of Indiana found in favor of the railroad company, ruling that the policy did cover the loss. The insurance company then appealed to the United States Supreme Court. The United States Supreme Court affirmed the decision of the Supreme Court of Indiana. The Court held that the policy did cover the loss and that the insurance company was liable for the loss. The Court also held that the insurance company was not entitled to any deductions from the amount of the loss. The Court concluded that the insurance company was liable for the full amount of the loss.

Justice Field delivered the dissenting opinion in this case, arguing that the majority's decision was wrong. He argued that under Indiana law, a railroad company could not be held liable for damages caused by fire unless it had been negligent or reckless. The majority had found otherwise and held that the railroad company was liable even if there was no negligence on its part. Justice Field disagreed with this conclusion and argued that such a ruling would impose an unreasonable burden on railroads since they are already subject to numerous regulations designed to ensure safety. Furthermore, he noted that allowing liability without fault would create uncertainty as to when a party might be held responsible for damage caused by fire, which could lead to unjust results in some cases. In his view, it made more sense for courts to adhere strictly to existing laws rather than expanding them beyond their original scope.