Peter F. Culver, a senior vice president of the Morgan Guaranty Trust Company, died last Wednesday, apparently of a heart attack, at a business meeting in Frankfurt. He was 42 years old and lived in Brussels. Mr. Culver had served as general manager of the Euro-clear System since February 1985. The system, the largest clearing system for internationally traded securities, is operated by Morgan Guaranty. A native of Westfield, N.J., Mr. Culver graduated from Oberlin College in 1967 and received an M.B.A. from Columbia in 1967. He is survived by his wife, Cathy; two daughters, Jennifer and Abigail, and a son, Craig. —The New York Times, March 18, 1987, page B-6