In the case of Rogers Park Water Company v. Fergus in 1900, the U.S Supreme Court ruled on a dispute involving water rights and property ownership. The Rogers Park Water Company had been granted permission by Illinois to lay pipes and supply water within certain areas, including land owned by Mr. Fergus. When he refused them access to his property, they sued him for obstruction of their work under state law which allowed such companies to use private lands for laying down their infrastructure after paying due compensation. The court held that while states have the power to regulate public utilities like water supply within its jurisdiction, it cannot infrally upon an individual's constitutional right without providing just compensation or due process of law as mandated by the Fourteenth Amendment. Therefore, although Illinois could permit a company like Rogers Park Water Co., it was not lawful for them to do so without ensuring fair treatment towards affected parties like Mr.Fergus. This ruling reaffirmed that corporations authorized by state laws must respect private property rights when conducting operations and upheld individuals' constitutional protections against unjust seizure or usage of their properties.

In the dissenting opinion for Rogers Park Water Company v. Fergus, it was argued that the majority's decision to uphold a law allowing municipalities to set water rates infringed upon private property rights and contracts. The dissenting justices believed this constituted an overreach of government power, as they saw no justification for such interference in private business affairs by state or municipal authorities. They contended that while public interest is important, it should not be used as a reason to violate constitutional protections around property rights and contractual obligations. Furthermore, they expressed concern about potential negative impacts on businesses due to unpredictable changes in regulations or rates imposed by local governments without proper compensation or consideration of existing agreements.