The challenge to presidential candidate George Wallace's Massachusetts nomination papers collapsed yesterday, when none of his four accusers appeared for a hearing before the state Ballot Law Commission.

According to Arnold Lockshin, a Harvard research assistant and one of the four, Kevin Boyle, another challenger, had promised to bring a handwriting expert named Elizabeth McCarthy to the Thursday session.

The Ballot Law Commission, in rejecting testimony Wednesday by Lockshin and challenger Joseph Dever, had indicated that only expert testimony could establish the alleged fraudulence of many of the Wallace signatures.

Lockshin, believing that his work was done, stayed home Thursday. Dever said, "I showed up, but the place was already closed. Boyle told me he had hired Elizabeth McCarthy and was going to come in Thursday morning with evidence of over 4000 fraudulent signatures."

Last night Boyle denied that he had hired Miss McCarthy, or that he had said so. He did admit that he had consulted another handwriting analyst. Wednesday night he decided not to employ the analyst because of the "absurd" cost involved in retaining both him and a lawyer for a court case which would surely follow any successful challenge of the Wallace papers.

According to Lockshin, Miss McCarthy had charged Boyle $500 to inspect the papers, and had then requested another $1000 for any additional services.