The Piedmont & Northern Railway Co. v. Interstate Commerce Commission et al., 1931, was a case that revolved around the regulation of electric railways by the Interstate Commerce Commission (ICC). The Piedmont and Northern Railway Company argued that it should not be subject to ICC regulations because its operations were confined within two states - North Carolina and South Carolina - therefore did not engage in interstate commerce. However, the Supreme Court ruled against them stating that even though their tracks didn't cross state lines, they still engaged in interstate commerce as they transported goods from one state to another through connections with other railroads. Therefore, they fell under federal jurisdiction and could be regulated by the ICC.

In the dissenting opinion for Piedmont & Northern Railway Co. v. Interstate Commerce Commission et al., Justice Stone argued that the majority's decision to uphold an order of the Interstate Commerce Commission (ICC) was incorrect because it failed to consider whether or not there was substantial evidence supporting ICC's findings. He contended that courts should review administrative decisions with a more critical eye, rather than simply deferring to them without question. Furthermore, he expressed concern over potential violations of due process rights if courts did not scrutinize these types of decisions thoroughly enough. In his view, judicial deference in this case allowed ICC’s unsupported conclusions about interstate commerce regulation and rates to stand unchallenged which could have far-reaching implications on businesses like Piedmont & Northern Railway Co.