The corporation reached its goal of $50,000 and bought 120 acres of land east of Waterloo on the Grant Highway (U.S. No. 20). On October 13, 1928, one of the most famous aviators of the era attended the dedication of the airport. Eddie Rickenbacker dedicated the airport "Chapman Field," named in honor of Lt. Chapman who lost his life during World War I. Army planes and pilots flew over the dedication ceremony, providing a fitting display in Lt. Chapman's memory. Rickenbacker discussed the history of transportation and the value of aviation to it. "The future of civilization lies in the air, but we cannot stop with present development." Rickenbacker predicted that oceans will be crossed with greater comfort, speed, and safety than current ocean-going vessels. He also stressed the ability of airplanes to carry heavy loads and transport goods around the world. Lastly, Rickenbacker stated that the biggest mission of aviation at that time was to stimulate commercial trading between the nations of the world and thus eliminate the jealousies and intrigues that cause war. These were revolutionary predictions that Rickenbacker made. Who could have thought then that at an airport dedication in Waterloo, Iowa, the future of aviation would be predicted? Rickenbacker was right about almost everything he predicted. The world today has grown smaller because of the speed of planes. Countries have not achieved the peace that he wanted, but can trade more than ever before because of the ease of flying. Can you imagine taking a boat to Europe to do business? It is now 10 times faster to jump on an airliner and be back in two days. Indeed, Rickenbacker was ahead of his time in predicting aviation's future.