Thoroughly mix the beef, 1/2 cup tomato soup, onion soup mix, bread crumbs and egg in a large bowl. Place the mixture into a 13 x 9 x 2-inch baking pan and firmly shape into an 8 x 4-inch
Bake at 350 degrees F. for 1 hour 15 minutes or until the meatloaf is cooked through. Let the meatloaf stand for 10 minutes before slicing.
Heat 2 tablespoons pan drippings, remaining tomato soup and water in a 1-quart saucepan over medium heat until the mixture is hot and bubbling. Serve the sauce with the meatloaf.