In Atchison, T. & S.F.R. Co. v. United States, 284 U.S. 248 (1932), the Supreme Court held that because of changed conditions the Interstate Commerce Commission abused its discretion in denying a rehearing. The record in that case was closed in September 1928. In February 1931, the railroads petitioned for rehearing and 'pointed out the grave reductions, in traffic and earnings, from which they were suffering, that their net operating income for 1930 was over $100,000,000 less than their average annual net operating income for the five years preceding, and that their credit was seriously impaired. At the time of this petition, the order had not yet become effective, but the Commission stood upon the record of 1928 and, without reopening the proceedings or taking further evidence, provided that its order should become effective on June 1, 1931.' This, it was held, 'was not within the permitted range of the Commission's discretion, but was a denial of right.' (284 U.S. 248, 261, 262.)