Green’s Dictionary of Slang

peter v.1

[? peter out v. but it appears to be earlier; ? Fr. peter, to explode weakly]

1. (also petre, petter) to stop, to cease; in fig. use, to die.

[UK]J. Poulter Discoveries (1774) 42: Petter, in Cant, stands for a great many Things, as hold your Tongue, let it alone, or stand still, or the like.
[UK]Whole Art of Thieving [as cit. 1753].
[US]H. Tufts Autobiog. (1930) 293: Petre yourself signifies (a watchword) take care of yourself.
[UK]Vaux Vocab. of the Flash Lang. in McLachlan (1964) 257: Peter that, synonymous with stow that.
[US]Quincy (IL) Whig 6 Jan. 1/4: When my mineral petered why they all Petered me. If so be I gets a lead, why I’m Mr. Tiff again [DA].
[US]F.H. Hart Sazerac Lying Club 136: The mines petered and the bubble bursted.
[US]A.H. Lewis Wolfville 262: The boys, not havin’ no leader, with Mace petered, gives up the game.
[Aus]Bulletin (Sydney) 13 Dec. 36/1: And when I’ve petered do not fail / To tell him Todd, of Morris Vale, / Has just submitted to his bail.
[US]C.E. Mulford Hopalong Cassidy Returns 148: This old trail’s shore peterin’.
[US]Maledicta II:1+2 (Summer/Winter) 120: The result has been too much [...] false modesty about words that simply look as if they might be sexual: cock [linnet] = ‘minute’, not to mention expressions such as old cock (buddy, mate), standing peter (we say ‘standing pat’), peter that (‘shut up’), or even pissing down with rain (‘raining cats and dogs’).

2. to tire, to feel exhausted.

[UK]Hotten Dict. of Modern Sl. etc. 74: PETER, to run short, to give out.
[US]Overland Monthly (CA) III 127: After a long desert journey the oxen become much ‘petered’ [DA].

In exclamations